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Outsourcing payroll process has many advantages. It can save time, money, and compliance headaches. This is why an increasing number of enterprises and small business owners are turning over their payroll function to professional providers who offer fully managed payroll services. Time and cost saving Outsourcing Payroll Process is a time-consuming process and requires attention to detail. It increases as staff numbers grow. Time spent on payroll, handling considerable amounts of data and ensuring accuracy of calculation. It is time taken away from the core business. Payroll outsourcing reflect the time a company can win back by outsourcing these duties. By outsourcing payroll processing to statutory filings to handling payroll enquiries. Then your organization could be much better off. Improve data security In-house payroll system is subject to a lot of risk, including identity theft and embezzlement. Even if you are confident that your payroll software is safe and secure, there is p

  Accounting Outsourcing Companies in Dubai When you started your own business you started with passion and determination in your mind. As an entrepreneur you may have more important things to do than accounting. However accounting still remains the integral part of your business. Investing in your company’s accounting needs should be considered critical. A messy book of accounts or accounting done with cheap resources could prove to be more problematic in future. It could cause hindrance in growth of your business or all together closing your company. Below are 5 mistakes which you can avoid by being mindful and cautious to be one of the Best Accounting Outsourcing Companies in Dubai. 1.      Avoid cheapest available resource Well, well, well accounting skills is not something which you can pick up on a sale from supermarket. While you can always find affordable options but be mindful of what you get. Many businesses have receptionist, spouse, sales person etc doing their accounts or

  Believe it or not, accounts are the back bone of any business. It helps owners take crucial decisions of their business. We are one of leading Outsourced Accounting Services firm in UAE . We also provide Payroll Accounting in UAE . Listing down few simple yet important points to explain why correctly done accounting is beneficial for a business. 1.      Helps raise money for business Do not dig a well when your house is on fire. We might have a situation where it would necessary to take loan from bank or investor. For such a situation your company accounts must be ready to be submitted. If the accounts are not in place then it is really difficult to get loan and starting to write accounts after the need for loan would be very time consuming and expensive. 2.      Helps understand business performance We all do business to make some money out of it. The basic tool to know how your business is performing is by keeping a well managed accounts. As an owner we always tend to focus on our

Outsourcing Payroll Process has many advantages. It can save time, money, and compliance headaches. This is why an increasing number of enterprises and small business owners are turning over their payroll function to professional providers who offer fully managed payroll services. Time and cost saving Processing payroll is a time-consuming process and requires attention to detail. It increases as staff numbers grow. Time spent on payroll, handling considerable amounts of data and ensuring accuracy of calculation. It is time taken away from the core business. Payroll outsourcing reflect the time a company can win back by outsourcing these duties. By outsourcing payroll processing to statutory filings to handling payroll enquiries. Then your organization could be much better off. Improve data security In-house payroll system is subject to a lot of risk, including identity theft and embezzlement. Even if you are confident that your payroll software is safe and secure, there is potential

  Understanding the Impact of Economic Substance Regulations ESR on Investment Businesses You might be aware that UAE is a member of Organization for Economic Co-operation and Development (OECD) Inclusive Framework on Base Erosion and Profit Shifting (BEPS). In a recent development, UAE has introduced the Economic Substance Regulations (ESR) and experts feel that this development can be significant in this industry. This introduction of ESR has dragged the attention of market gurus as well as of those numerous companies which are in the investment business.  Consequently, it has become essential that the investment companies re-look their functioning and study their business in the light of this development. If you manage such a business, you can largely benefit from this article and therefore, we insist that you read this article. This article not only highlights and studies the impact of Economic Substance Regulations ESR on different businesses engaged in investment activities but

How to manage Account Receivable effectively? Accounts Receivables  affects cash flow of any organization. Slow customers would require you to draw down your cash reserves to sustain ongoing business operations. Besides, as customer account balance get older, the probability of collecting those accounts diminishes. Here are some of the  best practices could improve the receivables process  and thus help improve cash flow, and maintain a healthy the bottom line: Raising Invoices from the System Now a days most of the financial system facilitates issuing invoicing directly from the system on meeting a pre-determined criterion i.e. on delivery of goods or end of the month, etc. This will ensure your customers receive your invoices on time without manual intervention.  In addition, generating invoices through the system reduces chances of errors in invoice preparation. Multiple Online Payment Options An increasing number of businesses are now receiving and paying using Electronic Funds Tra

  REGISTER FOR VAT VAT was introduced in UAE in Jan 2018  at the standard rate of 5%. If you are a business owner or plan to establish a business in UAE, you need to get registered under UAE VAT Law. Here are a few things you need to know before you register for VAT:     1. Knowing when to register for VAT If your company in the preceding 12-months or over the next 30-days exceed the threshold limit of AED 375,000 in taxable supplies and imports, you need to register for VAT in the UAE. If your taxable supplies and imports fall under this threshold of AED 375,000 but exceed AED 187,500 you can choose to do a voluntary registration. Knowing when to register – or deciding when to voluntarily register – is complicated. If you don’t register when you reach the threshold limit, you’re subject to penalties and fines. On the other hand, if you choose to register voluntarily, even though you may enjoy the benefits of tax refunds or offset expenses – it can also be an unnecessary hassle and cos

  VAT Registration Natural Person and VAT compliance : One of the most common questions most of the Natural Persons who owns multiple businesses have when it comes to registering with Federal Tax Authority (FTA) for a VAT Tax Registration Number (TRN) is whether to: Request for a separate TRN no. for each business owned by them or  Seek one TRN no. for all businesses owned by them FTA recently published a Clarification (VATP021) on the subject to help Natural Person comply with VAT law and regulations. Some of the important points to consider from the Clarification include: Who should register for VAT – Natural Person or his Sole Establishments separately: A Natural Person owning a number of sole establishments needs to  obtain only one VAT registration for all its sole establishments  and does not require separate VAT registrations for such establishments. FTA further noted, the Clarification does not apply to a One-Person Company  LLC or other similar legal entities, which are seen